When it comes time to part ways with your beloved car, maximising its resale value is a crucial consideration. After all, getting the best return on your investment helps offset the cost of your next ride. To achieve this, it's important to take proactive steps to maintain your car's appeal and attract potential buyers.
From diligent maintenance and smart upgrades to careful documentation and market research — these tips will help significantly boost the resale value of your car and empower you to navigate the world of car resale with confidence. So, buckle up and join us as we uncover the secrets to getting the most money back when you sell for your car!
1. Regular servicing and maintenance
Taking good care of your car through regular servicing and quickly addressing any mechanical issues, shows your vehicle has been well-cared for, and increases its saleability. Plus, keeping records of these services provides solid proof of your car's maintenance history, which can influence a potential buyer's decision to choose your car over another.
Having an up-to-date Warrant of Fitness (WOF) and at least 3 months of Registration (Rego) is important when selling your car. It demonstrates your vehicle is road legal, meeting general safety and legal requirements and giving the new buyer peace of mind.
2. Keep it clean inside and out
First impressions count. A clean exterior and a fresh and clutter-free interior creates a positive impression and enhances what a buyer thinks when they come to view and test drive your car. By investing time in regular washing, vacuuming, and tidying up, you show that your car has been well loved, making it more attractive to possible buyers.
To help keep your car clean, here are some quick additional tips:
- add a plastic bag for all coffee cups and parking display tickets to go straight into,
- install a pleasant smelling air freshener,
- clean up any spillages as soon as they happen to prevent stains,
- shake out your floor mats before leaving the car, and
- what goes in to the car, comes out of the car when you get back.
3. Protect against wear and tear
Get a higher resale value by keeping your car looking its best with these practical steps to protect the interior and exterior.
Use car seat covers, floor mats and these other relatively low-cost accessories, to keep the interior clean and free from wear and tear.
On the outside, think about investing in measures like paint sealants or wraps to shield against scratches and weathering. Additionally, if you do spot any dings or scratches, take the time to get them touched up and keep that paint job looking as good as new. To take it up a notch, there are professional detailing services that can work wonders in giving your car that showroom-worthy look.
If you can, avoid smoking or vaping in your car as it can hurt the resale value and put off possible buyers. This habit can discolour the upholstery, and the smell will permanently absorb into the car surfaces and areas you can’t see or reach, such as inside the air conditioning system.
4. Choose a popular and reliable make and model
Do your homework before you buy a new car. Take a moment to research and consider the reputation and reliability of the car model you've got your eye on. Selecting a car that's popular and reliable can model can pay off in the long run.
Consider for a vehicle that has a strong reputation for its dependable performance and is well-known for its wide availability of servicing and parts. A popular model that holds its value well, like the Suzuki Swift, is likely to attract more interested buyers, boosting your chances of getting a better resale price.
By choosing a car with a solid track record in the New Zealand market, you not only ensure a smoother ownership experience, it will also be more desirable when it's time to sell.
5. Avoid excessive modifications
While personalising your vehicle can be fun and reflect your unique style, excessive modifications can have a negative impact on its resale value. It's important to consider that not all potential buyers may share the same taste or enthusiasm for unconventional modifications like spoilers or bold paint colours.
By keeping the car's appearance and features as close to the original as possible, it will have broader appeal and attract a wider range of buyers. So, think twice before going overboard with modifications and weigh the potential impact on your car's future value.
Wrap up
So, whether you're planning to sell your car in the near future or simply want to maintain its value over time, implementing these strategies is a good start. Take pride in your car, keep it well-maintained, and make smart choices that enhance its marketability. This way, you'll maximise your chances of getting the best possible resale value when the time comes.
And if you need a few more useful tips to find a car that not only fits your needs, but also maintains its resale value, download our Guide to Buying a New Car!
